Employee and customer theft, fraud, and other retail losses increased a whopping 22 percent from $50.6 billion in 2018 to $61.7 billion 2019, according to the National Retail Federation. The top reasons for increased theft included employee theft (58%), shoplifting, and organized retail crime.
Take the guesswork out of tracking your performance to improve your convenience store profitability.
As of 2019, there were approximately 66,000 combined gas station and convenience stores across the US. Competition within the c-store industry is high, and c-store owners are struggling with finding ways to increase customers, boost profits, and improve efficiency.
C-store technology, like your POS system, can help you work more efficiently and provide you with specific data, but how do you turn that data into profits?
Discover how to boost convenience store profits and meet customers’ expectations like a pro!
As a c-store owner, you have two critical challenges: meet customers’ expectations and stay profitable. For some c-store owners, doing both may seem impossible.
If disaster strikes, will you be ready?
Don’t let a disease outbreak or natural disasters, like earthquakes, tornadoes, hurricanes, fires, floods, and snowstorms take you by surprise. Protect yourself instead by creating an effective emergency plan.
Ever since the news of COVID-19 first broke, consumer behavior has been shifting. Customers are focusing on safety now more than ever. They want to get in and out of stores quickly, with as little contact with others as possible in order to reduce the risk of contracting this disease. Even as restrictions begin to lift and concerns decrease, safety is expected to remain a top priority for consumers moving forward.Continue reading »
Today’s state of the industry calls for transformation at an unprecedented pace for retailers. Almost overnight, curbside pickup has surged more than 208%. Those who may not have originally prioritized curbside pickup programs are now pivoting towards the new norm. Even those retailers that had programs in place are now faced with the sudden increase in adoption from consumers, and troubleshooting through logistical challenges to provide a better customer experience.
As natural disasters from inclement weather, wildfires, the spread of viruses, or other emergencies that can affect your day-to-day business arise, executives are reconsidering current work policies and are planning to enact procedures to keep employees/customers safe, all while not losing/closing their businesses. Arming yourself, your employees and your property with the tools to act and react to any situation is key in protecting your customers and employees in an emergency, keep your store open longer and or help you to resume operations as quickly as it is safe to do.
As with any retail space, the goal of a convenience store layout is to maximize sales by exposing customers to more products. The more time your customers spend in your store, the more products they have an opportunity to view, and the greater the chance is that they’ll find things they like and want to purchase.
In a convenience store, you are challenged with exposing customers to products without impeding traffic flow—all within a confined space. This is a tough balancing act. Not enough exposure and you can hinder sales, but an overpacked design obstructing traffic flow too much can result in a negative impact on the customer experience.
Here are a few ways you can optimize your convenience store layout for better sales:Continue reading »
Gas stations and convenience stores (or c-stores) are a thriving industry, and have been a fixture on the American scene since the first c-store opened in 1927. According to the National Association of Convenience Stores (NACS), there are more than 153,000 c-store locations operating in the United States, bringing in $242.2 billion from inside sales and another $412.1 billion from fuel sales.
Competition is fierce, but with the right tools and best practices for gas station management, you can set your business up for success in 2020. Here’s how to maximize your growth potential:Continue reading »
As we begin 2020, gas station and convenience store owners can rest easy knowing that c-stores are not going anywhere. In fact, the expectation from customers is for the retail environment to become even more convenient.
As with many industries over the past decade, c-stores have significantly evolved—remaining the top destination for seekers of hot beverages and the preferred quick service food spot among millennials and Gen Z with food sales accounting for 23% of all revenue.Continue reading »
It’s a given that robust c-store software is a must-have for any retailer if they want to boost their bottom lines and stay competitive, but the industry is shifting yet again towards a more mobile approach. Because of that, many c-store owners are adopting cloud-based c-store software to improve their operations and meet growing customer demands.
Cloud-based solutions offer many advantages over legacy POS solutions. Here are some of the most notable:Continue reading »
By now, pretty much every single business owner has heard about EMV. EMV stands for Europay, Mastercard, and Visa, and is the global standard for cards that are equipped with chips. This technology is used to authenticate card transactions, combat credit card fraud, and improve payment card security.
With how important EMV compliance is, why is it then, that gas station and c-store owners have been universally slow to adopt this technology? One factor is the expense, yes, but another is a lack of information on what you risk when you aren’t EMV compliant. Here are a few:Continue reading »
In 2019, there are nearly 66,000 gas stations with convenience stores in the United States. To compete and thrive, store owners need to get intentional about operating a successful business. Expectations are changing, which provides gas station owners with an opportunity to better serve their needs, attract new business and develop customer loyalty.Continue reading »
Forty-three percent of consumers age 18 to 29 (Millennials and Gen Z) say they’ve purchased more food from a convenience store now than they did three years ago. In the US, c-stores experienced record in-store sales in 2018, an increase of 2.2 percent from the previous year of inside sales, with younger Americans driving the trend for convenience store food.
When combined, Millennials and Gen Z outnumber every other age bracket and are the driving force behind food sales at convenience stores.Continue reading »
Marketing, like nearly every other aspect of running a gas station, is changing with the times. New technologies provide new opportunities, and today, storeowners have new and effective ways to pump up their gas station marketing.
One of the powers of modern point of sale (POS) systems is the ability for small chains and independent stores to market like global corporations.
There are at least three ways storeowners can leverage technology for more effective gas station marketing.
Right-sized technology provides the critical competitive edge in the retail playing field, particularly among independents and chains. Today’s leading convenience store operators are maximizing their performance by leveraging technology in two interrelated areas of inventory management practice: optimal inventory levels, and a highly productive product mix. See how SG II Group built the infrastructure they needed to manage both their inventory and their bottom line.Continue reading »
Internet of Things becomes more and more of a necessity for retailers, as it helps them embed the physical devices with electronics, software, and sensors, enabling a seamless data flow.Continue reading »
Digital Transformation is the trend to follow nowadays. If it’s done smart, it is a sure path to success and customer enablement that allows companies to understand data, compare results, and make accurate predictions.Continue reading »
It’s hard to remember that over 20 years ago cell phones were mainly used for emergency purposes and looked like walkie-talkies; think the Nokia 9000 which was one of the first mobile “great communication enablers.”Continue reading »
Looking for hot topics on foodservice? In this article, we have compiled a list of our favorite Foodservice articles that we believe are worth the read.Continue reading »
The West region spans across 9 states including Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah, and Washington. NACS reports a store count of 22,433 stores ranging from single stores to 501+ store chains with approximately 26% non-fuel stores.Continue reading »
The Central region spans across 10 states including Montana, Wyoming, Colorado, North Dakota, South Dakota, Nebraska, Kansas, Minnesota, Iowa, and Missouri. NACS reports a store count of 13,363 stores ranging from single stores to 501+ store chains with approximately 8% non-fuel stores.Continue reading »
The Southeast region spans across 7 states including Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina, and Tennessee. NACS reports a store count of 37,645 stores ranging from single stores to 501+ store chains with approximately 14% non-fuel stores.Continue reading »
The Northeast region spans across 14 states including Connecticut, Delaware, DC, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont, Virginia, and West Virginia. NACS reports a store count of 32,761 stores ranging from single stores to 501+ store chains with approximately 32% non-fuel stores.Continue reading »
The South Central region spans across 5 states including Arkansas, Louisiana, New Mexico, Oklahoma, New Mexico, and Texas. NACS reports a store count of 24,498 stores ranging from single stores to 501+ store chains with approximately 14% non-fuel stores.Continue reading »
New foodservice technology and a special announcement on October 19th.Today’s digitally connected consumer demands unprecedented control over every step of the ordering process. Foodservice retailers are responding to this demand by adopting technology to streamline ordering, preparation, delivery, and operational communication.Continue reading »
Restaurants and convenience stores find success by staying competitive and controlling margins. Pressure on margins can come from many sources such as wage increases, employee turnover, gas price fluctuations, declining tobacco sales, and card fees. The blurring of retail formats is also changing the competitive landscape, creating new competition and opportunities.Continue reading »
Strong sales and profits are the result of having the right product mix and level of inventory. Achieving this ideal mix requires having current and accurate inventory information.Continue reading »
To produce the greatest return, the inventory carried by a c-store should meet its customers’ tastes, needs and expectations.
As Hershey’s data illustrates, to carry the right product mix, c-store managers should consider regional, local and hyperlocal trends and demographics.Continue reading »
Keeping track of inventory can help retailers not only meet customer demand by keeping shelves stocked with high-selling items, it can also help them keep a faithful watch on high theft items.Continue reading »
Many laws govern the forecourt and the convenience store (c-store). Convenience store retailers must be aware of these regulations or face heavy fines, risk being shut down and/or put out of business due to non-compliance.Continue reading »
Inventory is a core asset that can make or break a convenience (c)-store operation. Managing c-store inventory, which may include thousands of UPCs, requires tracking key data and metrics as well as having the right operational procedures, infrastructure and technology to optimize the inventory.Continue reading »
Collecting and transferring ATG and POS data through a public (open) internet connection makes fuel marketers and c-store owners vulnerable to data breaches and attacks, enabling hackers to control and turn off gas station pumps. With DirectConnect and CStoreOffice®, fuel marketers and c-store owners can transfer encrypted data within their own private and secure environment, all at an affordable price.Continue reading »
Ask single-store retailers and multi-store operators alike what they consider their biggest business challenges, and the conversation will likely revolve around one topic: meeting customers’ demands while maintaining a healthy bottom line. In order to meet both of these objectives, retailers must anticipate what customers will want and understand the margin for each product they sell.Continue reading »
If you could hire the “perfect” employee for your c-store, what would their job description be?
Would they be able to interact with customers, in person and via mobile devices? Remember what individual customers buy and suggest products and promotions that dovetail with their shopping habits? Quickly verify a shopper’s age before ringing up the bottle of wine they’ve set on the counter? Track inventory in ways that minimize out-of-stocks? That “perfect” employee is available in today’s state-of-the-art POS systems!Continue reading »
PITTSBURGH, PA–(Marketwired – November 04, 2014) – Petrosoft introduces SmartPOS retail video journaling, a novel solution that enables retail operators to quickly review the video footage of important point of sale transactions, saving them time and reducing overall operational risk.Continue reading »